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CARLYLE GROUP COMPLETES PURCHASE OF ELECTRONICS DIVISION OF GENERAL DYNAMICS

 SAN DIEGO, Nov. 23 ~PRNewswire~ -- The Carlyle Group and management today completed its previously announced acquisition of the Electronics Division of General Dynamics (NYSE: GD). The name of the new company is "GDE Systems, Inc.," and will remain in San Diego, where it employs approximately 2,000 employees.
 GDE Systems, Inc., specializes in applying digital technology to design, develop, manufacture and support quality defense electronics for tactical and strategic forces. The company's revenues in 1992 will be approximately $300 million.
 Dr. Terry Straeter, president and chief executive officer of GDE Systems, Inc., said of the completed sale: "This is a great day for GDE Systems, Inc., the Carlyle Group, our customers and our employees. We have the products and technologies to meet our customers' needs and adapt to the new realities. The products support increased mobility and lower operating costs and provide a strong basis for growth in the governmental, international and commercial markets. We have an excellent opportunity to determine our future."
 Carlyle is a private merchant banking firm that has led numerous partnerships which have purchased major firms, including: BDM International, a defense-oriented consulting firm previously part of Ford Aerospace; LTV Aircraft Division, purchased recently from LTV and now operating as Vought Aircraft Corporation; Caterair International, the nation's largest airline caterer; Baker & Taylor, the nation's leading book distributor; and CB Commercial, the nation's largest commercial real estate services company.
 -0- 11~23~92
 ~CONTACT: Dale Leibach, 202-434-8525, or David Rubenstein, 202-347-2626, both for the Carlyle Group; or Percy Myers for GDE Systems, Inc., 619-573-5309~
 (GD)


CO: Carlyle Group; General Dynamics ST: California IN: ARO SU:

TW -- DC019 -- 0605 11~23~92 13:56 EST
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Publication:PR Newswire
Date:Nov 23, 1992
Words:276
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